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Monopolistic Competition & Oligopoly

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Explain which market structure this firm operating in attached file. Compare the long-run quantity and price to those of a perfectly competitive firm. What accounts for the difference? Is the equilibrium price greater than, equal to, or less than marginal cost? Why or why not?

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An explanation of which market structure the firm is operating in is determined. The expert compares the long-run quantity and price of the perfectly competitive firms.

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Explain which market structure this firm is operating in this graph?
Answer: The firm is operating in monopolistic competition.
Compare the long-run quantity and price to those of a perfectly competitive firm. What accounts for the difference? Is the equilibrium price greater than, equal to, or less than marginal cost? Why or why ...

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